Treasure Crest

watchlist88

watchlist88

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Don't follow herd mentality like stock market, see everybody rush then also follow ! If cannot get your desired unit, walk away from it. Best of luck to all who are balloting today.

With so many balloting and for the same units, there will be disappointed buyers for sure.
 
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ecobuyer

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If buying new EC is rich (Income ceiling of $14,000), how about those who bought private condos?

This is the norm. By 12 noon, it is common for ECs to sell more than 100 units (should not look at tickets issued as not all buyers may eventually sign the OTP)

Once the OTP is signed, termination fee applies should you decide to drop out.
 
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mortal_azazel

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Yeah lor ...

ecobuyer said:
If buying new EC is rich (Income ceiling of $14,000), how about those who bought private condos?

This is the norm. By 12 noon, it is common for ECs to sell more than 100 units (should not look at tickets issued as not all buyers may eventually sign the OTP)

Once the OTP is signed, termination fee applies should you decide to drop out.
Click to expand...
 
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Kuinny

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d2rkbear said:
106 tickets now... Seems like there is a lot of rich ppl
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I think mostly are 2nd timers. EC is more affordable for these group of ppl as they can cash in their HDB and the loan taken will not be as high comparing to PC cos EC still 10-20% cheaper than PC.

A EC cost $850k-$1m minimally to take a bigger unit, if they cash in their HDB which could fetch them $300-$500k (depending the type of flat they have), their loan is much more manageable provided their HDB loan already fully paid off with lots of CPF and cash on hand. If they buy a PC which cost at least $1m & above, they will need to take up a higher loan amount.

However if they still got outstanding HDB loan with not much CPF or cash on hand, then this group of buyers is the more shaky one when bad times come cos of the higher leverage, unless they have an iron rice bowl :)
 
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ecobuyer

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Kuinny said:
I think mostly are 2nd timers. EC is more affordable for these group of ppl as they can cash in their HDB and the loan taken will not be as high comparing to PC cos EC still 10-20% cheaper than PC.

A EC cost $850k-$1m minimally to take a bigger unit, if they cash in their HDB which could fetch them $300-$500k (depending the type of flat they have), their loan is much more manageable provided their HDB loan already fully paid off with lots of CPF and cash on hand. If they buy a PC which cost at least $1m & above, they will need to take up a higher loan amount.

However if they still got outstanding HDB loan with not much CPF or cash on hand, then this group of buyers is the more shaky one when bad times come cos of the higher leverage, unless they have an iron rice bowl :)
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Good thoughts.

For second timers who bought directly a BTO from HDB, resale levy applies. This means that the effective psf could be around $745 psf + $45 psf (approx resale levy factored in) = $790 psf.

In contrast, if they consider a private condo of $880 psf (This is the median psf; 50% are lower than $880 psf for a private condo launched in Sengkang launched last year).

Yes, they have to pay the ABSD first but they can get remission/ refund of ABSD later when they sell their existing BTO.

So, actually the difference is less than $100 psf between a new EC and a private condo for second-timers who have to pay resale levy. Yet, the second-timers have more options eg can buy another private property in the next 8 years, can rent out whole private condo if you cannot sell the HDB at your desired price. In this way, you don't have to worry about the HDB resale prices 2 -3 years later...

You can discuss with the bank or check online loan calculator. One could borrow more for a private condo as it is subjected to 60% TDSR vs 30% MSR for a new condo.

Do discuss with your family members what is best for your family. Weigh the pros and cons and arrive at a consensus that is best in light of your family situation.
 
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Kuinny

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ecobuyer said:
Good thoughts.

For second timers who bought directly a BTO from HDB, resale levy applies. This means that the effective psf could be around $745 psf + $45 psf (approx resale levy factored in) = $790 psf.

In contrast, if they consider a private condo of $880 psf (This is the median psf; 50% are lower than $880 psf for a private condo launched in Sengkang launched last year).

Yes, they have to pay the ABSD first but they can get remission/ refund of ABSD later when they sell their existing BTO.

So, actually the difference is less than $100 psf between a new EC and a private condo for second-timers who have to pay resale levy. Yet, the second-timers have more options eg can buy another private property in the next 8 years, can rent out whole private condo if you cannot sell the HDB at your desired price. In this way, you don't have to worry about the HDB resale prices 2 -3 years later...

You can discuss with the bank or check online loan calculator. One could borrow more for a private condo as it is subjected to 60% TDSR vs 30% MSR for a new condo.

Do discuss with your family members what is best for your family. Weigh the pros and cons and arrive at a consensus that is best in light of your family situation.
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True. Thanks for the info. I am still looking around for my "dream unit" lolx. Upgrading is a "Good to have" and not "Must have" to me. So if the location & price hit my checklist, I may give it a shot. So I give TC a miss for now (never say never).

Just curious, u bought High Park Residence? Care to share what unit type u bought and how much?
 
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ecobuyer

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Kuinny said:
True. Thanks for the info. I am still looking around for my "dream unit" lolx. Upgrading is a "Good to have" and not "Must have" to me. So if the location & price hit my checklist, I may give it a shot. So I give TC a miss for now (never say never).

Just curious, u bought High Park Residence? Care to share what unit type u bought and how much?
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I just use high park residences as a benchmark.

Hpr 4 1152 sq ft bedrm (pool view) starts from 980k at launch.

3 bedrm (ve various size) can get at abt 800k at launch.


If you miss high park residences launch, there is another private condo next to hpr likely to launch next year.

Land size is smaller est 600 plus units.
 
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Pynchmail

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asky2505 said:
Pte condo can loan ard 50 to 60% if you still have an existing hdb loan. That's the thing that puts ppl away or push them to ec. How to pay 40% downpyt without selling the hdb?

Sent from sibeh sianz using GAGT
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Yalor. Plus have to pay ABSD first, which together with the normal stamp duty is another 10%. Refund of ABSD is only after you sell the HDB. In the meantime, how to pay?
 
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